WPR News
8:14 am
Fri September 26, 2008

State Treasurer: Retirement Funds Intact

Laramie, WY – While some states and large corporations are nervous about their retirement accounts in the declining economy...the State Treasurer says Wyoming workers do not need to worry.

Joe Meyer says the state retirement program was set up to take a financial hit. He recalls that when the stock market crashed in 1987, the state lost 500-million dollars in three weeks. After that, Meyer says they adjusted the fund so that it could better weather a storm.

Meyer says the state retirement fund currently holds six billion dollars.